Establishing an endowment fund can be a powerful tool for nonprofits to help achieve long-term financial stability, supporting and advancing their mission for generations to come. Rose Community Foundation’s Endowment Building Pathways offer structured support to help organizations launch and grow endowments, sustaining a culture that builds for the future.
The three pathways – Launch, Sustain and Growth – are designed to support organizations at different stages of their endowment building work, providing training, incentives, individual coaching, resources and a platform to connect with nonprofit peers.
“Endowments are just one of many tools that nonprofits can utilize to strengthen and sustain their operational budgets,” says Amelia Fink, director of nonprofit funds and endowments. “Our programs cater to both large and small organizations, meeting them where they are in their journey and providing the support they need.”
Building Bridges
This year, the Foundation launched the Bridge Program, connecting organizations from the Launch and Growth pathways.
Participants from the Growth Pathway serve as mentors to organizations in the Launch Pathway that are just beginning their endowment journeys. Organizations can ask their mentor questions and identify points of alignment that strengthen the work of both organizations.
Northglenn Youth Theatre, a participant of the Launch Pathway, was paired with the Boulder Jewish Community Center, a participant of the Growth Pathway. Both organizations are well-established in their respective communities, embracing an intergenerational approach to their work and providing a wide range of services.
Northglenn Youth Theatre (NYT) is an audition-based program that offers young participants a semi-professional experience, culminating in a theatrical production. As the program has grown, so have the associated costs, leading to an increase in registration fees. Recognizing the need to eliminate financial barriers to participation, NYT sought to expand its scholarship program. To support this goal, they established an endowment fund at Rose Community Foundation and engaged in the Launch Pathway and Bridge Program.
“Partnering with an organization that’s several steps ahead of you is incredibly valuable,” says Michael Stricker, executive producer of Northglenn Arts, which operates NYT. “It’s beneficial to talk to someone who remembers what it’s like to be your size and face your challenges. Having the ability to bounce ideas off them, gather clarifying information, or simply share insights about the process has been incredibly valuable.”
The Boulder Jewish Community Center (BJCC) focuses on building connections and fostering community across all demographics – offering camps, after school programs, lectures and programs for arts, music, literature and more. Over the years, staff of the BJCC has participated in the Launch, Growth, and Sustain Pathways, as well as Momentum – the Foundation’s program for Jewish organizations.
“We’ve been invested in growing our own endowment and also helping other organizations grow theirs’,” says Heidi Dormody, senior director of development at the Boulder Jewish Community Center. “Partnering with another organization gave us valuable insights into our own processes, and it was incredibly rewarding to mentor and share knowledge along the way.”
When asked what they would tell other organizations about opening an endowment fund, both agree: Just do it.
“Rose Community Foundation not only provides the tools to start an endowment but also expand your entire fundraising toolbox,” says Michael. “The education they offer is incredible, guiding both staff and the board of directors in the right direction for all fundraising efforts, not just the endowment. So, I would tell others – now is the time.”
More information on opening an endowment fund and the Endowment Building Pathways is available here. Interested organizations can contact Director of Nonprofit Funds and Endowments Amelia Fink and Nonprofit Endowment Advisor Mellenie Goebel.